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Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the session down to 1,418 points. Still, sentiment was mixed between the various ship types and markets, with Capesizes faring better than smaller vessels and finally edging ever so closer to the Panamax market, in terms of average daily earnings. Yesterday, the Baltic Capesize Index (BCI) was higher by 0.66% to 1,836 points. This, combined with the Panamax’s market retreat by 1.62% to 1,883 points meant that the two larger vessel types are ever so close. During the previous months, the panamaxes earning more than their larger counterparts has been a typical “abnormality of the market”, on the back of higher supply of capesize vessels.
In a relative report, Paris-based Barry Rogliano Salles mentioned that the Capesize market was the sole positive positive performer this week, with the BCI up 5%, while all the other segments suffered losses. The BPI lost almost 1% to finish at 1914 points, while the BSI and the BHSI lost 2% to 1319 and to 734 respectively. On the Capesize market, the report noted that “after a soft start to the week, rates picked up and the BCI finished Friday at 1824 points, and the 4TC at US$10,120 – a 9% increase on the previous week. The Atlantic saw a good recovery with rates going up 7-8%, while Hedland-Qingdao also saw a small boost. There were also some signs of a pick-up in China coal demand with fixtures being quoted for longer haul routes. The period market continues to soften, however, and a 171,000 tonner was fixed for 9-11 months with China delivery at US$10,250 per day, a new low for the market. The market is also seeing a drop in demolition rates in the Indian sub-continent, signaling that the supply of tonnage going for scrap may now be taking its toll on prices” said BRS.
It is worth noting that Vale announced this week that its new ‘Valemax’ vessels would reduce its shipping costs by around 20-25%, and that it would ‘keep building as much as is necessary’. Vale said iron ore shipping costs for the company would drop to between $17-$18 per ton with the new ships, compared to $22 per ton today. The company also declared ‘a few ports’ in China were ready to accommodate the vessels. Vale calculates its freight costs based on a 10 year average operating cost plus a good return on the capital investment for a basket of vessels including Capesizes and the new mega sized vessels. Vale admitted the ships would have greater benefit in the a harder market: “Today we have got the best possible market situation with high iron ore prices and low freight rates but we want to be ready for when the market turns."
In terms of the Panamax market, it “stayed flat this week with the 4TC average easing by $100 to close the week at $15,344 per day. The Pacific market fell by $550 to just below $14,000 per day.
The Indian Ocean stayed quiet and iron ore out of WCI/China was muted – Panamax vessels open there were able to fix at around $12-12.50 pmt for trip from WCI to China.
In the Atlantic, the market peaked on Wednesday and then eased by $300 per day Thursday and Friday. W-o-w the TA increased by $200, to end the week at just below $17,000 per day.
Period wise, the short period market stayed flat at $14,000 with a small number of vessels being fixed” said the report.
As far as the Supramax/Handy markets are concerned, BRS mentioned that “the Far East remained unexciting with a definite lack of cargoes and plenty of ships in every position. Consequently the market weakened further, falling to below $10,000 for Nopac or Australian round voyages. Another bleak area was India, where the monsoon has started hitting owners hard, leaving no alternative but to ballast either to South Africa or further away to ECSA or the Singapore area. South America saw a flurry of activity with a good number of fixtures to any destination, supported by sugar and grain exports. Several Supramax have been fixed in the region of $20-21,000 + $400,000 ballast bonus, with ECSA delivery for trip out. The transatlantic remained steady, with rates equating to mid teens for round voyages. The USG remained firm with several petcoke stems, leading to rates in the mid $20,000s for trip Continent or Med. Handies fared well, averaging low teens over the week, irrespective of basin”.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- VISA Power Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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